George Town Central Business District, Penang
The George Town CBD is the central business district within George Town, the capital city of the state of Penang in Malaysia. As the term implies, the CBD contains the highest concentration of financial and banking services within George Town, serving as the city's financial heart.
Traditionally, Beach Street has been regarded as the central business district of George Town. One of the first streets to be created in Penang, Beach Street was where several international banks built their branches in the late 19th century. To this day, many of the banks remain along the street. In addition, within the vicinity of Beach Street, governmental buildings were constructed, making the area the administrative centre of Penang for much of the state's history.
After the inscription of the city centre as a UNESCO World Heritage Site in 2008, Gurney Drive, with a high concentration of skyscrapers, is also touted as George Town's second CBD.[1]
Historic CBD : Beach Street
Historically, this district coincides with the particular area that was first explored and developed by Captain Francis Light after his founding of Penang in 1786. It is centred at Beach Street and Light Street, which are among the first streets to be created on Penang Island. It is loosely bounded by Pitt Street (now Jalan Masjid Kapitan Keling) to the west, Chulia Street to the south and Weld Quay along the city's eastern shore.[2][3]
The CBD therefore covers the several international banks along Beach Street, such as Standard Chartered Bank, HSBC, Oversea-Chinese Banking Corporation, United Overseas Bank and Bank of China, as well as administrative buildings like the City Hall and the State Assembly Building, in a manner similar to the Civic District within downtown Singapore.[4][5] The City Hall, built in 1903, houses the head office of the Penang Island City Council, while the State Assembly Building is the meeting place of the Penang State Legislative Assembly.
Due to the numerous Malaysian and international banks that operate within the CBD, George Town serves as the commercial centre for northern Malaysia.
In addition, the CBD serves as a transportation hub within George Town. The city is linked with the Malay Peninsula via the Penang Ferry Service, with its terminal at Weld Quay. Right next to the Weld Quay Ferry Terminal is the Rapid Penang bus terminal, where most bus routes within Penang Island begin and terminate.
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New CBD : Gurney Drive
The city centre has been inscribed as a UNESCO World Heritage Site since 2008. The new UNESCO rulings that are now enforced include a building restriction on construction works exceeding five storeys or 18 metres.
Hence, plans have been drawn up to turn Gurney Drive, the most famous seaside promenade in Penang which also lies outside the UNESCO site, into George Town's new CBD.[1] Skyscrapers and high-rise residences have already sprung up along Gurney Drive over the recent decades, while two of George Town's major shopping malls - Gurney Plaza and Gurney Paragon - are also located along the road.
As of 2016, the Gurney Wharf project, which aims to create a seaside recreational park along Gurney Drive, has commenced, with land reclamation ongoing off the shoreline.[6]
See also
References
- ^ a b "Penang DAP rep: Put all projects in Gurney Drive on hold". 2015-05-22. Retrieved 2016-11-27.
- ^ Nordin Hussin (2007). Trade and Society in the Straits of Melaka: Dutch Melaka and English Penang, 1780-1830. Singapore: National University of Singapore. ISBN 9789971693541.
- ^ "Portal Rasmi Kerajaan Negeri Pulau Pinang - Penang Investment Seminar". www.penang.gov.my. Retrieved 2016-11-27.
- ^ "Banking in on preserving city's heritage - Community | The Star Online". www.thestar.com.my. Retrieved 2016-11-27.
- ^ "UOB Branch Locator". www1.uob.com.my. Retrieved 2016-11-27.
- ^ "Penang's Gurney Drive bund turns brown waters jade green". AsiaOne. Retrieved 2016-11-27.